Elshaddai Edwards has an excellent post which reviews different philosophies of Bible translation and points out their strengths and weaknesses. The great thing about this article is that whatever translation or translation philosophy you prefer, Edwards will probably upset you. That’s what I call and even handed approach.
If you want inerrancy, you need to learn and study the original Hebrew and Greek, with a dash of Aramaic. There is no possible way for an English language version of the Bible to be inerrant, if by that you mean that the text formally, functionally, accurately and meaningfully conveys the original message that the author intended, as well as any divinely inspired fuller meanings. There is not 1:1 equivalence between Hebrew, Greek and English, and there will always be compromises. Those compromises mean that you cannot speak of an English language translation as being inerrant, because, as the saying goes, there is always something “lost in translation”.